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TT International fiscal Q2 loss widens YOY

TT International Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to a loss of S$11.6 million, compared with a loss of S$5.6 million in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to negative 4.8% from negative 9.2% in the year-earlier period.

Total revenue grew 43.6% year over year to S$87.1 million from S$60.7 million, and total operating expenses increased 44.7% from the prior-year period to S$94.5 million from S$65.3 million.

Reported net income came to a loss of S$16.9 million, or a loss of 2 cents per share, compared to a loss of S$9.2 million, or a loss of 1 cents per share, in the year-earlier period.

As of Nov. 13, US$1 was equivalent to S$1.42.